UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

__X__Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
     Act of 1934

                  For the quarterly period ended March 31, 2001

                                       or

_____Transition report pursuant to Section 13 or 15(d) of the Exchange Act


                        Commission File Number 333-33350

                          First Security Bancorp, Inc.
       (Exact Name of Small Business Issuer as Specified in Its Charter)

       Kentucky                                         61-1364206
       --------                                         ----------
  (State of other jurisdiction of                     (I.R.S. Employer
   incorporation or organization)                    Identification No.)

400 East Main Street, Lexington, KY 40507
(Address of Principal Executive Offices)
(859)- 367-3700
(Issuer's Telephone Number, Including Area Code)

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

                        _X_ Yes   ___ No

The number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: Common stock, no par value - 1,456,250
shares outstanding as of April 15, 2001.

Transitional Small Business Disclosure Format (check one):

                        ___Yes      _X_No

<PAGE>

FIRST SECURITY BANCORP, INC.
TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.................................................4
Item 2. Management's Discussion and Analysis or Plan of Operation............10

PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K....................................18


<PAGE>
PART I - Financial Information
Item 1.  Financial Statements

                             First Security Bancorp, Inc.
                        Consolidated Balance Sheets (Unaudited)
                                  (in thousands)

                                               March 31     December 31
Assets                                           2001           2000

Cash & due from banks                         $ 3,950         $3,774
Federal funds sold                              7,652          4,524
                                               ------         ------
         Total cash & cash equivalents         11,602          8,298
Securities available for sale                  19,795         13,240
Loans                                         114,799        107,098
         Less allowance for loan losses        (1,318)        (1,221)
                                               ------         ------
Net loans                                     113,481        105,877
FHLB stock                                        228            224
Leasehold improvements, premises
 & equipment net                                5,598          5,590
Accrued interest receivable                       998          1,062
Other assets                                      188            168
                                              -------         ------
         Total Assets                        $151,890       $134,459
                                              =======        =======
Liabilities & Shareholders' Equity

Liabilities
         Deposits
Non-interest bearing                          $10,694        $ 8,274
Time deposits $100,000 and over                26,285         21,750
Other interest bearing                         95,230         85,519
                                              -------         ------
         Total Deposits                       132,209        115,543
Securities sold under agreements
 to repurchase                                  1,183          1,393
Federal Home Loan Bank Advances                 1,046          1,049
Accrued interest payable                          703            624
Other liabilities                                  66            238
                                              -------         ------
         Total Liabilities                    135,207        118,847
Shareholders' Equity

Common stock no par value                       8,385          8,071
Paid-in Capital                                 8,385          8,071
Accumulated defecit                              (386)          (639)
Accumulated other comprehensive
 Income                                           299            109
                                              -------         ------
         Total Shareholders' Equity            16,683         15,612
                                              -------         ------
Total Liabilities and Shareholders' Equity   $151,890       $134,459
                                              =======         ======
<PAGE>


                          First Security Bancorp, Inc.
                           Consolidated Statements of
                   Income and Comprehensive Income (Unaudited)
                       (in thousands, except per share data)

                                   Three Months Ended
                                        March 31
                                    2001        2000
Interest Income

     Loans, including fees        $2,412      $1,857
     Securities - taxable            229          63
     Securities - non-taxable          7           -
     Federal funds sold              134          71
     Other                            16           2
                                   -----       -----
                                   2,798       1,993
Interest Expense

     Deposits                      1,732       1,092
     Other Borrowings                 32          13
                                   -----         ---
                                   1,764        1105
                                   -----         ---
Net Interest Income                1,034         888

Provision for loan losses            100         100
                                   -----         ---
Net interest income after
  provision for loan loss            934         788
Noninterest Income
     Service charges and
      fees on deposits                33          29
     Securities Gains                  7           -
     Real Estate lease                62           -
     Other                            26          12
                                      --          --
                                     128          41
Noninterest expense
     Salaries and
       employee benefits             407         302
     Occupancy & Equipment           142          81
     Data Processing                  46          34
     Advertising                      33          24
     Professional Fees                26          40
     Taxes other than payroll,
        property and income           34          43
     Other                           121          87
                                     ---         ---
                                     809         611
                                     ---         ---

Net Income                          $253        $218
                                     ===         ====
Other Comprehensive Income (Loss)

  Other comprehensive income (loss)  190         (11)
                                     ----        ----

  Comprehensive income              $443        $ 207
                                     ===         ====

Weighted average shares common outstanding:
     Basic                           1,454      1,000
     Diluted                         1,601      1,025

Earnings per share:
     Basic                            $.17       $.22
     Diluted                           .16        .21
<PAGE>

<TABLE>

                          First Security Bancorp, Inc.
            Consolidated Statement of Changes In Shareholders' Equity
                           (in thousands) (unaudited)
<CAPTION>

                                                                                 Accumulated
                                                    Additional                   Other            Total
                               --Common Stock--     Paid-In     Retained         Comprehensive    Shareholders'
                              Shares      Amount    Capital     Earnings         Income (Loss)    Equity
<S>                           <C>         <C>       <C>         <C>              <C>              <C>

Balance January 1, 2001        1,415     $8,071       $8,071    $(639)           $ 109            $15,612

Net change in accumulated
   other comprehensive income
   (Loss)                                                                          190                190

Issuance of Common Stock          41        314          314                                          628

Net Income                                                          253                              253
                               -----      -----       ------     ------            ----             -----
Balance March 31, 2001         1,456     $8,385       $8,385    $  (386)          $299          $  16,683
                               =====      =====       ======    =======           =====            ======
</TABLE>

                          First Security Bancorp, Inc.
                      Statements of Cash Flows (unaudited)
                  Three Months Ended March 31, 2001 and 2000
                                 (in thousands)

                                                                   2001    2000

Cash flows from Operating Activities:
Net income (loss)                                                  $253   $ 218
Adjustments to reconcile net income to net
   cash from operating activities
   Depreciation                                                      56      31
   Amortization and accretion on available
       for sale securities, net                                     (10)      2
   Provision for loan losses                                        100     100
   Federal Home Loan Bank Stock dividends                            (4)     (2)
   Investment securities gains        net                            (7)      0
   Change in assets and liabilities:
       Accrued interest receivable                                   64    (103)
       Other assets                                                 (20)    (10)
       Accrued interest payable                                      79      43
       Other liabilities                                           (172)    (71)
                                                                    ---     ----
            Net cash from operating activities                      339     208

Cash flows from investing activities
   Net change in loans                                           (7,704)(12,930)
   Activity in available for sale securities
        Maturities,Calls, and principal repayments                3,324   1,024
        Purchases                                               (11,982)   (500)
        Sales                                                     2,310       0
   Leasehold improvements and net purchases of
     premises and equipment                                         (64)     (6)
                                                                  ------  ------
            Net cash from investing activities                  (14,116)(12,412)

Cash flows from financing activities
   Net change in deposits                                        16,666  11,032
   Net changes in securities sold under
     agreements to repurchase                                      (210) (1,518)
   Payments on Federal Home Loan Bank advances                       (3)      -
   Issuance of common stock                                         628       0
                                                                  -----   -----
   Net cash from financing activities                            17,081   9,514
                                                                 ------  ------
Net change in cash and cash equivalents                           3,304  (2,690)

Cash and cash equivalents at beginning of period                  8,298  11,272
                                                                 ------  ------
Cash and cash equivalents at end of period                      $11,602 $ 8,582
                                                                 ======  ======
Supplemental Disclosure of Cash Flow Information:

Cash paid during the period for:  Interest                       $1,685 $  1,061
<PAGE>

NOTE 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation:

     The accounting and reporting policies of First Security Bancorp, Inc. (the
"Company") and its wholly-owned subsidiary First Security Bank of Lexington
(the"Bank") conform to generally accepted accounting principles and to
predominant practices within the banking industry. The significant policies are
described below.

     The Bank is a Kentucky corporation incorporated to operate as a commercial
bank under a state bank charter. The Bank generates commercial, mortgage, and
installment loans, and receives deposits from customers located primarily in the
Fayette County, Kentucky area. The majority of the Bank's income is derived from
lending activities. The majority of the Bank's loans are secured by specific
items of collateral including business assets, real estate, and consumer assets,
although borrower cash flow may also be a primary source of repayment. All of
the Bank's operations are considered by management to be aggregated into one
reportable operating segment.

     Recent Accounting Pronouncements: Beginning January 1, 2001, a new standard
required all derivatives to be recorded at fair value. Unless designated as
hedges, change in these fair values will be recorded in the income statment.
Fair value changes involving hedges will generally be recorded by offsetting
gains and losses on the hedge and on the hedged item, even if the fair value of
the hedged item is not otherwise recorded. The adoption of this standard did not
have a material effect.

     The accompanying unaudited consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-QSB and Item 310 of
Regulation S-B. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements. In the opinion of management, all adjustments (consisting
of normal recurring accruals) considered necessary for a fair presentation have
been included. Operating results for the three-month period ending March 31,
2001 are not necessarily indicative of the results that may be expected for the
year ended December 31, 2001.

NOTE 2 - SECURITIES

Securities were as follows:                          Gross       Gross
                                        Amortized  Unrealized  Unrealized  Fair
                                          Cost        Gains      Losses    Value
                                        ---------  ----------  ----------  -----
                                                       (in thousands)
Available for Sale

March 31, 2001
  U.S. Treasury securities              $  250         $ -       $  -    $   250
  U.S. Government agency securities     10,934         178         (3)    11,109
  Mortgage-backed                        5,060         125          -      5,185
  Municipal securities                   3,251           -          -      3,251
                                        ------         ---      ------    ------
   Total debt securities               $19,495        $303       $ (3)   $19,795
                                         =====         ===      ======    ======
December 31, 2000
  U.S. Treasury securities              $  250         $ -      $   -    $   250
  U.S. Government agency securities     10,628         121        (54)    10,695
  Mortgage-backed                        2,253          48         (6)     2,295
                                         -----         ---        ----     -----
       Total debt securities           $13,131        $169       $(60)   $13,240
                                         =====         ===        ====     =====

Securities pledged at March 31, 2001 and year-end 2000 had carrying amounts of
$2.2 million, and $2.4 million, and were pledged to secure customer repurchase
agreements and to the Federal Reserve Discount window. Proceeds from securities
sold during the quarter ended March 31, 2001 totaled $2.3 million and resulted
in a net gain of $7,000.

NOTE 3 - LOANS

Loans were as follows:
                                                March 31  December 31
                                                  2001        2000
                                                  ----        ----
                                                   (in thousands)

Commercial                                     $32,046       $31,257
Mortgage loans on real estate:
  Commercial                                    58,139        53,058
  Residential                                   13,267        11,663
Consumer                                        11,347        11,120
                                                ------         -----
                                              $114,799      $107,098
                                                ======        ======
Changes in the allowance for loan losses were as follows:

                                       Three Months Ended
                                             March 31

                                         2001      2000
                                         ----      ----
                                         (in thousands)
Beginning balance                       $1,221     $819
  Loans charged off                         (3)      (1)
  Recoveries                                 0        0
  Provision for loan losses                100      100
                                         ----      ----
Ending Balance                         $1,318     $ 918
                                         ====      ====


NOTE 4 - EARNINGS PER SHARE

The factors used in the earnings per share computation follow.

                                            Three Months Ended
                                               March 31

                                             2001      2000
                                             ----      ----
                                           (in thousands, except per share data)
Basic
  Net Income                                 $ 253     $ 218

  Weighted average common shares             1,454     1,000

Basic earnings per common share                .17       .22

Diluted
  Net income                                  $253      $218

  Weighted average common shares             1,454     1,000

  Add:  Dilutive effects of assumed exercises
    of stock warrents                          147        25
                                             -----     -----
  Average shares and dilutive potential
    common shares                            1,601     1,025
                                             =====     =====
Diluted earnings per common share              .16       .21

NOTE 5 - STOCK OFFERING
On September 29, 2000,the Company initiated the sale of 456,250 shares of common
stock at $16 per share though a public offering. Through December 31, 2000, the
Company sold 414,778 shares which, net of direct costs of issuance, increased
shareholders' equity $6.3 million. The remaining 41,472 shares in the offering
were sold in January 2001 which, net of direct costs of issuance, increased
shareholder's equity an additional $628,000.

<PAGE> Part I Item 2.

Management's  Discussion  and  Analysis or Plan of Operation

General.
     The Bank is a commercial banking organization organized under the laws of
the Commonwealth of Kentucky, and is a wholly owned subsidiary of the Company.
The Bank offers a variety of products and services through two full service
offices including the acceptance of deposits for checking, savings and time
deposit accounts; extension of secured and unsecured loans to corporations,
individuals and others; issuance of letters of credit; and rental of safe
deposit boxes. The Bank's lending activities include commercial and industrial
loans, real estate, installment, and other consumer loans and revolving credit
plans. Operating revenues are derived primarily from interest and fees on loans
and from interest on investment securities.

     We have made, and may continue to make, various forward-looking statements
with respect to credit quality (including delinquency trends and the allowance
for loan losses), corporate objectives and other financial and business matters.
When used in this discussion the words "anticipate," "project," "expect,"
"believe," and similar expressions are intended to identify forward-looking
statements. In addition to factors disclosed by the Company, the following
factors, among others, could cause actual results to differ materially from such
forward-looking statements: pricing pressures on loan and deposit products;
competition; changes in economic conditions both nationally and in our market;
the extent and timing of actions of the Federal Reserve Board; customers'
acceptance of our products and services; and the extent and timing of
legislative and regulatory actions and reforms.

Overview
The mission of First Security Bank is to firmly establish itself in Lexington,
Kentucky as a full-service bank providing traditional products and services
typically offered by commercial banks. The Lexington banking market is highly
competitive with 17 commercial banks and thrift institutions currently serving
the market. Most of the banks in Lexington are part of larger bank holding
companies headquartered outside of the Lexington /Fayette County market and
Kentucky. Promoting local management has proven effective for First Security
Bank in attracting customers, fostering loyalty and establishing and maintaining
strong asset quality.

In order to support continued growth, First Security Bancorp made an offering of
common stock that commenced on September 29, 2000 at a price of $16.00 per
share. First Security Bancorp sold 414,778 shares through December 31, 2000 and
an additional 41,472 shares were sold in January, 2001, for total gross proceeds
of $7.3 million. ($6.9 million net of direct costs of issuance). Shareholders'
equity to total assets increased to 11.6% at year-end as compared to 8.7% at
year-end 1999.

Net income for the three months ending March 31, 2001 was $253,000, up from
$218,000 for the same period in 2000. Earning assets increased from $125.1
million as of December 31, 2000, to $142.5 million as of March 31, 2001
contributing to the increase in net income. Net loans increased from $105.9
million as of December 31, 2000 to $113.5 million as of March 31, 2001. Total
deposits increased from $115.5 million as of December 31, 2000 to $132.2 million
as of March 31, 2001, funding earning asset growth.

In December, 2000 First Security Bank purchased a former banking facility at
318-320 East Main Street in downtown Lexington for $3.5 million to replace its
current main office. The new Main Office will significantly increase First
Security Bank's downtown presence and visibility and includes the added
convenience of drive-thru windows and an ATM, which the present main office does
not have. It is expected that an additional $846,588 will be invested to prepare
this facility for use by summer 2001. A fourth branch location will be opened
during the second half of 2001. A building has been purchased and will be
renovated for this purpose, at an anticipated cost of $731,191. The land for
this facility will be leased for $5.600 per month. The impact of these new
locations will cause an increase in non-earning assets which may slow near-term
growth in net interest income. Further, growth in net income and book value per
share will be negatively impacted until the growth in earnings associated with
these new locations covers the additional costs. First Security Bancorp believes
however, that the potential longer term benefits, incuding prospects for new
loan and deposit growth, outweigh the potential near term costs.

First Security Bancorp and First Security Bank have not needed to record income
tax expense since inception as the result of losses generated in First Security
Bank's first years of operation and uncertainty about becoming profitable.
Recording income tax expense, approximately 34% of pre-tax income, could begin
as soon as the third or fourth quarter of 2001.

                              Results of Operations

Net Interest Income

Net interest income was $1.034 million for the three months ended March 31,
2001, compared to $888,000 in 2000, resulting in an increase of $146,000 or
16.4%. The increase in net interest income was primarily the result of volume
increases in earning assets. Year-to-date earning assets were up $17.4 million,
or 13.9% from 2000 to 2001, while the weighted average yield on earning assets
decreased from 8.52% to 8.41% for the same period. The general level of interest
rates declined significantly for the period ending March 31, 2001, and as
compared with the same period last year. Net interest margin declined to 3.08%
for the quarter ending March 31, 2001, versus 3.77% for the quarter ending March
31, 2000. The decline in net interest margin is largely a result of the downward
movement in interest rates. This trend could continue during 2001 and may result
in a decrease in the rate of growth of net interest income, and a decrease in
net interest margin should rate decreases have a more pronounced affect on
earning assets than on interest bearing liabilities.

Non Interest Income and Expenses

Non interest income increased from $41,000 to $128,000 for the three months
ended March 31, 2000 and 2001, respectively. The increase of $87,000 is
primarily attributable to lease income on real property owned by First Security
Bank, and other non deposit service charges. Lease income is derived from
property to be used as First Security Bank's new main office. We anticipate that
First Security Bank will occupy a portion of the new building by the summer of
2001, and lease the remainder. First Security Bank will be released from the
lease on its current main office facility. There will be no early termination
charge on the lease.

Non Interest Expense

Non interest expense increased from $611,000 to $809,000 for the three months
ended March 31, 2000 and 2001, respectively. The increase of $198,000 is
primarily attributable to salaries and benefits, occupancy, and equipment
expense.

Salaries and benefits were $302,000 and $407,000 for the three months ended
March 31, 2000, and 2001, respectively. The number of full time equivalent
employees increased from 23 at March 31, 2000, to 30 at March 31,2001.
Additional employees were hired to staff the third location opened in 2001, for
business development purposes, and for bank operations.

Occupancy and equipment expenses were $81,000 and $142,000 for the three months
ended March 31, 2000, and 2001 respectively. The increase resulted from
operating costs associated with the third branch office and the purchase of the
building to be used as the new main office facility.

Securities Available for Sale

The amortized cost of investment securities increased from $13.1 million as of
December 31, 2000 , to $19.5 million as of March 31, 2001. Investment security
purchases of $12.0 million were designed to move liquidity from lower yielding
federal funds sold to higher yielding securities. Securities sold during the
quarter which totaled $2.3 million, resulted in a gain of $7,000, and were
reinvested in securities offering higher yields. During the period ending March
31, 2001, First Security Bank purchased $3.3 million in municipal securities.
Municpal purchases were completed in anticipation of the banks net taxable
position in 2001. The remainder of the portfolio primarily consisted of U.S.
Government Agency Securities. Additional purchases of municipal securities will
occur consistent with prudent tax planning strategies.

Loans

Net loans increased $7.6 million from December 31, 2000 to March 31, 2001. The
real estate portfolio grew $6.7 million with $5.1 million in commercial real
estate loans and $1.6 million in the residential category.

We have a significant amount of our loans to commercial and commercial real
estate borrowers. Approximately 78.5% of our loan portfolio was in loans to
commercial businesses and commercial real estate borrowers. The growth of
commercial loans and commercial real estate loans is a result of increased
marketing and competitive pricing in our primary market. We anticipate that the
rate of growth in the commercial sector of the portfolio will decrease as
penetration in the consumer loan market increases, precipitated by the continued
development of our branch network.

Allowance and Provision for Loan Losses

The provision for loan losses was $100,000 for the periods ending March 31, 2000
and 2001. Year to date net charge offs were minimal at $1,000 and $3,000 for the
periods ending March 31, 2000, and 2001, respectively. The levels of delinquent
and non-accrual loans have been and continue to be very insignificant. The loan
loss reserve to total loans was 1.15% as of March 31, 2001.

     The allowance for loan losses is regularly evaluated by management and
reported quarterly to our board of directors. Our management and board of
directors maintain the allowance for loan losses at a level believed to be
sufficient to absorb inherent losses in the portfolio at a point in time.
Management's allowance for loan loss estimate consists of specific and general
reserve allocations as influenced by various factors. Such factors include
changes in lending policies and procedures; underwriting standards; collection,
charge-off and recovery history; changes in national and local economic and
business conditions and developments; changes in the characteristics of the
portfolio; ability and depth of lending management and staff; changes in the
trend of the volume and severity of past due, non-accrual and classified loans;
troubled debt restructuring and other loan modifications; and results of
regulatory examinations. To evaluate the loan portfolio, management has also
established loan grading procedures. These procedures establish a grade for each
loan upon origination which is periodically reassessed throughout the term of
the loan. Grading categories include prime, good, satisfactory, fair, watch,
substandard, doubtful, and loss. Specific reserve allocations are calculated for
individual loans having been graded watch or worse based on the specific
collectability of each loan. Loans graded watch or worse also include loans
severely past-due and those not accruing interest. Loss estimates are assigned
to each loan, which results in a portion of the allowance for loan losses to be
specifically allocated to that loan.

     The general reserve allocation is computed by loan category reduced by
loans with specific reserve allocations and loans fully secured by certificates
of deposit with us. Loss factors are applied to each category for which the
cumulative product represents the general reserve. These loss factors are
typically developed over time using actual loss experience adjusted for the
various factors discussed above. As we are a newly organized bank, our
historical loss experience is less reliable as a future predictor of inherent
losses than that of a bank with a mature loss history. Until our own experience
becomes fully developed, we have computed these factors utilizing local and
Kentucky peer data from the Uniform Bank Performance Reports which we believe is
representative of our loan customer base and is therefore a reasonable predictor
of inherent losses in our portfolio.

     We believe the allowance for loan losses at March 31, 2001 was adequate.
The relationship between the allowance for loan losses and loans did not change
signficiantly during the periods presented as, based on the best information
available, the overall credit quality of our loan portfolio has not changed.
Although we believe we use the best information available to make allowance
provisions, future adjustments which could be material may be necessary if the
assumptions used to determine the allowance differ from future loan portfolio
performance.

Deposit and Other Borrowings

The deposit base provides the major funding source for earning assets. Total
deposits increased by $16.7 million from December 31, 2000 to March 31, 2001.
Deposits have grown at historically consistent levels. Demand deposits were up
modestly to 8.1% of the total.

     The table below illustrates our deposits by major categories as of March
31, 2001, and December 31, 2000;

DEPOSITS
                                        March 31                December 31
                                          2001                      2000
                                        ---------               ------------
                                                  (in thousands)

Interest-bearing demand deposits        $14,423                    $15,028

Savings deposits                         15,838                     12,784

Time deposits less than $100,000         64,969                     57,707

Time deposits $100,000 and over          26,285                     21,750
                                        --------                -----------

   Total interest-bearing deposits      121,515                    107,269

   Total noninterest-bearing deposits    10,694                      8,274
                                       --------                -----------

        Total                          $132,209                   $115,543
                                       ========                ===========

<PAGE>
Liquidity.
Liquidity management is the process by which management attempts to insure that
adequate liquid funds are available for withdrawals by depositors, to fund
borrower credit needs, to pay operating expenses, fund capital expenditures,
service long term obligations, and meet reserve requirements. Liquidity is
monitored by the Asset/Liability Management Committee, which develops and
implements appropriate funding and balance sheet strategies.

First Security Bank has several alternative funding sources which may supplement
the deposit base, in meeting ongoing liquidity needs. The alternative sources
include unsecured federal funds lines of credit aggretating approximately $12.8
million; a secured repurchase agreement line from a correspondent bank; and a
secured line of credit from the Federal Reserve Bank of approximately $650,000.
Based upon its membership with the Federal Home Loan Bank of Cincinnati, the
Bank could borrow an additional $11.9 million, as of December 31, 2000.

Short term borrowings as of March 31, 2001, consisted of $1.2 million in
overnight customer repurchase agreements and $1.0 million in Federal Home Loan
Bank advances. Borrowing levels have remained at these relatively low levels and
have been stable. There were no federal funds purchases or other borrowings
during 2000 or through March 31, 2001.

Management believes that there is sufficient liquidity to meet all reasonable
depositors' and creditors' needs at the present time.

Capital.

On September 29, 2000, First Security Bancorp initiated the sale of 456,250
shares of common stock at $16 per share through a public offering. Through
December 31, 2000, 414,778 shares had been sold, which, net of direct costs of
issuance, increased shareholders' equity by $6.3 million. The reamining 41,472
shares in the offering were sold in January, 2001 which, net of direct costs of
issuance, increased sharedolders' equity an additional $628,000.

Regulatory agencies measure capital adequacy within a framework that makes
capital requirements, in part, dependent on the individual risk profiles of
financial institutions. Total capital was $16.7 million as of March 31, 2001,
increasing $1.1 million from $15.6 million as of December 31, 2000.
Shareholders' equity to assets was 10.98% as of March 31, 2001, and 11.61% as of
December 31, 2000.

The increase in total capital was attributable to the sale of common stock
discussed above, net income year to date through March 31, 2001, and an
improvement in the accumulated other comprehensive income (loss) category
resulting from decreases in market interest rates, leading to an increase in the
value of the available for sale security portfolio. As of March 31, 2001, First
Security Bank exceeded all of the regulatory minimums for a "well capitalized"
institution.


<PAGE>

                                   SIGNATURES

     In accordance with the requirements of the Exchange Act , the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
                                                First Security Bancorp, Inc.

                                                /s/John S. Shropshire
Date:  May  14, 2001                           John S. Shropshire
                                                Chairman, President and CEO
                                                (Principal Executive Officer)

                                                /s/Ben A. New
Date:  May 14, 2001                             Ben A. New
                                                Vice President/Controller
                                                (Principal Financial and
                                                Accounting Officer)



Exhibit 11  Statment regarding Computation of Per Share Earnings

See Item 1, Note 4 "Earnings Per Share" for calculations